ExxonMobil sells French Fos-sur-Mer refinery to Trafigura consortium

Exxon Mobil Corporation -2.62%
Dow Jones Industrial Average -0.62%
S&P 500 index -0.24%
NASDAQ +0.23%

Exxon Mobil Corporation

XOM

114.68

-2.62%

Dow Jones Industrial Average

DJI

48114.26

-0.62%

S&P 500 index

SPX

6800.26

-0.24%

NASDAQ

IXIC

23111.46

+0.23%

Sells to Entara/Trafigura consortium Rhone Energies

Has also agreed sale of Toulouse and Villette-de-Vienne terminals

- ExxonMobil's XOM.N Esso division has completed the sale of the Fos-sur-Mer refinery - one of France's major refineries - and two other oil terminals to Trafigura consortium firm Rhone Energies, the companies said on Friday.

Trading houses, including Trafigura and rival Vitol, have sought acquisitions as they spend the proceeds of energy price spikes and market volatility caused by the disruption following Russia's invasion of Ukraine.

The Fos-sur-Mer deal is Trafigura's second major acquisition this year, after it bought UK road fuels and biofuel supplier Greenergy.

Rhone Energies, a consortium formed by Trafigura with Entara LLC, is also buying the Toulouse and Villette-de-Vienne terminals from Esso.

The Fos-sur-Mer refinery has a crude oil processing capacity of 140,000 barrels per day.


(Reporting by Sudip Kar-Gupta; editing by Barbara Lewis)

((sudip.kargupta@thomsonreuters.com;))

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via